Ivy Tavern Property

Retail-Commercial for Sale
Catylist Listing ID: 30172682
Property Subtypes: Tavern/Bar/Nightclub
Building Size (RSF): 5,110 SF
Gross Building Area: See Agent
Sale Price: $1,000,000
Unit Price: $195.69 PSF
Property Use Type: Vacant/Owner-User
Sale Terms: Other
Cap Rate: Undisclosed
Last Updated: 12/15/2018

Overview / Comments

The property is improved with a tavern, liquor store, and 2 rental apartments. The building was constructed in 1920+/-. It has masonry and vinyl siding exterior, a concrete foundation and a flat and gable roof surfaced with rubberized membrane and composite shingle. The front portion on the building consists of a 3,060+/- SF tavern & liquor store with seating for approximately 65+/- customers. There is a kitchen area that has a pizza oven for customers to either eat-in or take out. The pizza, as well as all food, is made fresh on-site. There is table seating for approximately 30+/- and bar seating for an additional 35+/- patrons. The flooring is primarily linoleum. The walls are gypsum board. Heating and cooling are both gas forced air. The rear portion of the building consists of two apartments; The first floor apartment has 2 bedrooms, a living room, kitchen and a basement. It has been rented to the same tenant for 10+/- years. Monthly income from the apartment is $1,000.00. The tenant pays their own utilities; the landlord pays sewer and water. The second floor of the building consists of one apartment with 2 bedrooms, a living room and a kitchen. There is also an attic which has been converted to a living room. The flooring is primarily linoleum and commercial grade carpeting. The walls are gypsum board. Rental income from this apartment is $1,200.00 per month. The tenant pays their own utilities; the landlord pays sewer and water. Heating for both apartments is gas radiator heat. Cooling is provided through individual window units. Electrical service to the building is single phase 200+/- amp. There is also a 400+/- SF detached garage which is used for storage.

Additional Details

Nearest MSA: Trenton
County: Mercer
Zoning Description: Highway Commercial (HC): The district allows for the following uses among others: Restaurants, Bars, Tavern & Night Clubs, Banks, Bakeries. The complete zoning ordinance is available upon request.
Lot Frontage: 100
Lot Depth: 203
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,854 126,231 237,596
Median Age: 41.65 37.06 37.78
Households: 4,852 44,677 87,939
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